Amazon Recorded Excellent Quarter With Sales Increase of 24 Percent

Amazon Recorded Excellent Quarter With Sales Increase of 24 Percent

Foto: Depositphotos

Amazon announced financial results for its third quarter ended September 30. Net sales increased 24% to $70.0 billion, compared with $56.6 billion in third quarter 2018. Excluding the $500 million unfavorable impact from changes in foreign exchange rates throughout the quarter, net sales increased 25.

Operating income decreased to $3.2 billion, compared with operating income of $3.7 billion in third quarter 2018. Net income decreased to $2.1 billion, or $4.23 per diluted share, compared with $2.9 billion, or $5.75 per diluted share, in the same period last year.

Operating cash flow increased 33% to $35.3 billion for the trailing twelve months, compared with $26.6 billion in 2018. Free cash flow increased to $23.5 billion for the trailing twelve months, compared with $15.4 billion last year. Common shares outstanding plus shares underlying stock-based awards totaled 511 million on September 30, compared with 507 million one year ago.

“We are ramping up to make our 25th holiday season the best ever for Prime customers with millions of products available for free one-day delivery,” said Jeff Bezos, Amazon founder and CEO. “Customers love the transition of Prime from two days to one day, they’ve already ordered billions of items with free one-day delivery this year. It’s a big investment, and it’s the right long-term decision for customers. And although it’s counterintuitive, the fastest delivery speeds generate the least carbon emissions because these products ship from fulfillment centers very close to the customer it simply becomes impractical to use air or long ground routes. Huge thanks to all the teams helping deliver for customers this holiday.”

In the last quarter of 2019 the company expects net sales between $80.0 and $86.5 billion. That will be a growth between 11% and 20% compared with fourth quarter 2018. This guidance anticipates an unfavorable impact of approximately 80 basis points from foreign exchange rates. Operating income is expected to be between $1.2 billion and $2.9 billion, compared with $3.8 billion last year.

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